ProShares UltraShort Correlations

FXP Etf

USD 18.07 0.33 1.86%

The current 90-days correlation between ProShares UltraShort FTSE and Harbor ETF Trust is -0.64 (i.e., Excellent diversification). The correlation of ProShares UltraShort is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraShort Correlation With Market

Very good diversification

The correlation between ProShares UltraShort FTSE and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort FTSE and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort FTSE. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving against ProShares Etf

0.67	IRE	Tidal Trust II Buyout Trend	Pair Corr
0.43	SPY	SPDR SP 500	Pair Corr
0.43	IVV	iShares Core SP	Pair Corr
0.42	VTI	Vanguard Total Stock	Pair Corr
0.42	TOT	Advisor Managed Port	Pair Corr
0.49	TLCI	Touchstone ETF Trust	Pair Corr
0.39	EWT	iShares MSCI Taiwan	Pair Corr
0.37	DBA	Invesco DB Agriculture	Pair Corr
0.36	VO	Vanguard Mid Cap	Pair Corr
0.33	FPXE	First Trust IPOX	Pair Corr
0.31	CCNR	CoreCommodity Natural	Pair Corr
0.55	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.45	TERG	Leverage Shares 2X	Pair Corr
0.43	NBCE	Neuberger Berman ETF	Pair Corr
0.4	CHPS	Xtrackers Semiconductor	Pair Corr

Related Correlations Analysis

	NFXS	TSMG	QQXL	SEF	EZJ	HIYS	UGE	WRND	TAGS	MAPP
NFXS		0.87	-0.13	-0.14	0.84	0.92	0.85	0.78	-0.71	0.89	NFXS
TSMG	0.87		0.01	0.01	0.94	0.9	0.85	0.9	-0.55	0.92	TSMG
QQXL	-0.13	0.01		-0.48	-0.16	0.11	-0.33	0.39	-0.04	0.2	QQXL
SEF	-0.14	0.01	-0.48		0.09	-0.23	0.22	-0.16	0.4	-0.19	SEF
EZJ	0.84	0.94	-0.16	0.09		0.83	0.92	0.79	-0.45	0.87	EZJ
HIYS	0.92	0.9	0.11	-0.23	0.83		0.8	0.9	-0.69	0.95	HIYS
UGE	0.85	0.85	-0.33	0.22	0.92	0.8		0.68	-0.47	0.8	UGE
WRND	0.78	0.9	0.39	-0.16	0.79	0.9	0.68		-0.53	0.95	WRND
TAGS	-0.71	-0.55	-0.04	0.4	-0.45	-0.69	-0.47	-0.53		-0.61	TAGS
MAPP	0.89	0.92	0.2	-0.19	0.87	0.95	0.8	0.95	-0.61		MAPP
	NFXS	TSMG	QQXL	SEF	EZJ	HIYS	UGE	WRND	TAGS	MAPP

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MAPP	+ 0.95	HIYS
MAPP	+ 0.95	WRND
EZJ	+ 0.94	TSMG
HIYS	+ 0.92	NFXS
MAPP	+ 0.92	TSMG
UGE	+ 0.92	EZJ

High negative correlations

TAGS	- 0.71	NFXS
TAGS	- 0.69	HIYS
MAPP	- 0.61	TAGS
TAGS	- 0.55	TSMG
TAGS	- 0.53	WRND
SEF	- 0.48	QQXL

ProShares UltraShort Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraShort ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ProShares UltraShort's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NFXS	1.46	0.57	0.34	(111.70)	0.94	(1.77)	3.85	(1.81)	8.26
TSMG	3.27	0.51	0.16	0.28	3.49	(3.73)	7.06	(5.78)	19.96
QQXL	1.66	(0.28)	0.00	(0.12)	0.00	0.00	2.67	(4.94)	10.73
SEF	0.74	0.10	(0.02)	(0.04)	0.85	(0.79)	1.94	(1.26)	4.15
EZJ	1.69	0.33	0.18	0.24	1.66	(1.85)	4.28	(3.28)	9.28
HIYS	0.11	0.01	(0.26)	0.18	0.00	(0.13)	0.28	(0.23)	0.59
UGE	1.26	0.45	0.38	1.39	0.61	(1.57)	2.97	(1.66)	6.54
WRND	0.74	(0.01)	(0.02)	0.05	1.01	(0.68)	1.29	(1.81)	4.08
TAGS	0.55	(0.02)	0.00	1.99	0.00	0.00	1.02	(1.08)	2.75
MAPP	0.45	0.03	0.01	0.12	0.55	(0.45)	0.81	(0.89)	2.87

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC